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2/7/2012 8:03AM

ArcelorMittal Earnings Slump

ArcelorMittal reported a net loss of $1 billion in the fourth-quarter of 2011 and cautioned that the first six months of 2012 are likely to be tough. Dow Jones's Francesca Freeman explains how the steel maker suffered from a fall in global demand. Photo: Getty Images

This transcript has been automatically generated and may not be 100% accurate.

I ... OS all that all the world's largest steel maker posted a one ... billion dollar loss for most of last year ... this is just another sign of the global slowdown or is this actually the company's own fault ... well I just Lehman has been the kinda thing is that iShare with me Francesca high a k Joinus ... of the US's loss in relation to recent earnings and one billion ... dollars in one quarter ... of them just that ... now we saw in the proportion treated to a real sense of something that was around ... many say it was seven hundred and ten men and ... the funding of the quadriplegic hiphop and inefficient and fifty nine and the Inada thingy things about about ... how much what you think about this loss is this because of global growth and we all know you that the gentle slowdown ... in China's offices of its deal of ... a specific use of in its user of steel are with those words of instruction the mean ... it is is is really one of the elements of the story yet is that Aetna have some tax cuts and that that ... they also had to shut up to three which costs money he said ... and that was the director of put him on ... the book has come to think about growth going forward is hoping that this led to recover and that the that that sort of thing that ... is that she's thinking well ... apps is that a lot of time ... cautiously optimistic that not saying in a if ... if the runaway presence there and I that that ... that that they can test to see this wonder that ... I mean this in the astroturf of the stuff that it'll be some of that in effect ... Hoffman lost and the second half last it intends to give ... its no fundamental adding that he made that would be so stupid ... so is the sister the wells lot steelmaker mean what does this save for the rest of the industry ... think on ... results not mean it might not have a ... positive sign that ... a leaf out of there be some improvement on the horizon ... um ... so what you think that that's a good expect to go back and forth and it just you ... know the stock ... say love with this um reduce losses ... I'm ... that that ... money and kind of a ... leveling out they can get any physical aspect ... I think things are looking to save them ... just to thank the much indeed as that of the ... last moment ...